Earnings: Twitter Sees Pandemic Rebound, Shares Jump
It’s the season of earnings results, this time for the 2nd quarter of 2021 ended last month June. In that regard, Twitter, the famous social media company, has published its earnings report, showing a strong rebound from the lows of the pandemic era.
- In Q2, Twitter posted its strongest revenue growth since 2014, as its sales went up 74% year-over-year. In comparison, its sales in Q2 last year was down 19% over the year.
- Twitter posted $1.2bn in sales for the quarter and a net profit of $66mn, compared to an adjusted net loss of $127mn in Q2 last year.
- As usual, most of Twitter’s sales came from advertising and a minority from data licensing and other sources. Revenue from the US made up more than half of the company’s quarterly sales.
- Twitter ended Q2 with 206 million average monetizable daily active users (mDAU), up 11% year-over-year.
- For the next quarter (Q3 2021), Twitter is forecasting sales of between $1.2bn and $1.3bn. That’s compared to $936mn in sales in Q3 2020.
- Twitter stock (NYSE: TWTR) climbed 3% on Friday after the company posted its earnings. Year-to-date, the stock is up 28%.